House building realistic? Young family seeking advice

In this salary range, you already get the maximum EG amounting to 1800€. In addition, you mostly remain in IV/IV and the repayment is, if at all, manageable.

From a net income of €2770, the parental allowance payment is capped at a maximum of €1800 anyway. It doesn't matter whether you have special payments or not.

In that salary range, you get the maximum EG of €1800 anyway. Moreover, you usually stay in IV/IV and the repayment is, if at all, manageable.

very too late

First of all, thank you all for your feedback.

So here in NRW Heiligenhaus or also Oberhausen, the price per sqm in new development areas is also between 300 and 350 euros per sqm.

But now to your situation. I do think that the bank would approve a loan of that amount despite the low equity.
However, I would first keep a household budget for a few months to see how much the fixed expenses (mobile phone, electricity, insurance, tickets or fuel costs, ...) add up to in total. Banks always use flat-rate values which can vary greatly depending on lifestyle.

You said that you just finished your studies and now you are treating yourselves. You have to find a healthy middle ground for yourselves. I wouldn’t give up too much either. But since you know the other side as well, it shouldn’t be a problem for you.

As an IT specialist and mechatronics engineer, you have very good chances on the job market and in the Stuttgart area there are also enough alternatives.

If you secure the conditions for 20 years or possibly even longer and additionally take out a disability insurance and/or life insurance for 20 years, you will have the amount well covered. By then, a large chunk should have been paid off.

Well, I have now been working for 2 years, so not quite fresh out of studies. However, I have only been saving a fixed amount for about a year.
I think the idea of a household budget is good and I wanted to start one for a while anyway because I don’t like not having an overview of my finances or - as I wrote in the original post - spending money on things that simply aren’t necessary and that I luckily don’t need to be happy.

I will start that at the beginning of next month.

Hello,

purely from the income side, it looks good of course.
If you decide to buy the land next year, you should already start now to get your expenses under control.
On the one hand - you get used very quickly to being able to spend higher amounts. And - it is actually difficult to scale this back again, even if you lived differently before.
On the other hand - you could still build up some equity over the course of next year.

If you start now, you can see in the next few months whether it works as you imagine. For this, you should also keep the already mentioned household budget. If it doesn’t work - you still have the option of backing out of the purchase.

I have taken out a calculator and added up your figures.

Income approx. 6,000 euros (I’m leaving out special payments and additional salaries)
- Rent (warm) 1,100
- Savings (you) 650
- Savings (him) 450
- Car (you) 250
- Car (him) ??? 250
- Childcare 350
- Living expenses 1,000 flat-rate (in my opinion relatively high)
- Car loan (him) ???

That leaves 1,950 euros per month (minus car loan) which disappear into other channels. You now have to find out where this money goes (e.g., necessary insurance, mobile phone, pay-TV, clothes, vacations, eating out, etc.). After that, you have to find out how much you can and want to restrict yourselves (you don’t want to sacrifice everything for the dream). Then carry out these restrictions until the potential purchase date.

The rent and your savings amount to 2,200 euros per month - here the savings would then come on top and you can increase your equity.

By the way, between the purchase of the land and the start of construction, there are also a few months open. So your boyfriend could almost be done with his studies before you start building.

Think again calmly about the second child topic (no - don’t abandon the wish). Keep in mind that you will only have about 60% parental allowance anymore. The rate stays the same though. You have to compensate for this gap. Either with saved capital or by restricting your living expenses.

Yes, that was my thought too. If the plots are offered next year, then we have at least 1 1/5 years left to save money for them.

Yesterday we talked together about what measures we should now take so that we can use the time until then to accumulate equity. I will introduce a household budget starting May 1st and transfer everything that remains at the end of the month to a daily allowance account. Through the household budget, I hope to be able to put aside not just 650, but at least 1,000. My boyfriend wants to pay off his car loan first but will also transfer whatever remains at the end of the month.

If I were you, I would definitely apply for a plot of land! That doesn’t mean that you will actually get one or whether it will be a plot according to your wishes. But let’s be optimistic: if it fits, you should buy. It may well be that otherwise you have to wait several years for the next good plot (and whether it will be cheaper then?).

I think so too, that we shouldn’t let the chance slip away. At the last allocation, the demand was 300%, whereby locals and families with children were preferred. And luckily, we count as such.

Hello,

I also think that you can handle the corresponding monthly burden.

Therefore, I recommend that you definitely apply for a plot of land. From my experience, unfortunately, it is no longer certain that you really get a plot assigned on the first try.

We also have several families in our circle of acquaintances who have been unsuccessful up to three times.

It definitely makes sense in the current situation to keep a household budget and to separate necessary from "unnecessary" expenses - here the monthly savings rate can also be increased to grow equity faster.

Have you already looked around at the prefab house suppliers?

If you are interested, I would gladly send you the link to our building blog (individual timber frame prefab house in Böblingen district) - maybe you can get some ideas there as well.

Best regards,

Dirk

We will do that!

Last Friday, we were at the prefab house exhibition in Fellbach to get an idea of what we want and how many sqm would be sufficient.

If you have built a Weberhaus that you haven’t lived in for too long yet, then I have already read the blog. It was/is very helpful and also one reason why I definitely wanted to visit the two Weberhaus houses in Fellbach.

Special payments and performance-related payments are not included in the calculation of parental allowance. Also, tax refunds may have to be paid. All this should be taken into account.

I am aware of this regarding the parental allowance. Generally, it still has to be seen if and when we get a second and possibly third child. If it doesn’t fit financially at 30, then maybe three years later it will. And if the wish at 30 is that big after all, then it can be done for one year with some compromises.
By then, the monthly expenses for the studies will also fall away and my boyfriend’s income will certainly increase.

If you have built a Weberhaus that you haven’t lived in for very long yet, then I have already read the blog. It was/is very helpful and also one reason why I definitely wanted to visit the two Weberhaus houses in Fellbach

Hello Anna,

Oops, caught...

If I may give you one more tip:

The model home exhibitions are quite okay for getting ideas. However, you can rarely expect a thorough consultation, since the customer flow in the houses is quite high – especially when moving towards the weekend.

If Weberhaus should be interesting for you, I would warmly recommend taking a trip to Rheinau-Linx. There are several model houses there, the newest probably still in interior construction.

You can also view the selection exhibition there, take a factory tour and (also on weekends – preferably by prior arrangement) get a free consultation.

If interested, I can also put you in contact with our really very committed advisor at Weberhaus. He works two days a week in Pforzheim and otherwise in Rheinau-Linx.

Best regards,

Dirk

Hello Anna,

Oops, caught...

If I may give you one more tip:

The model home exhibitions are quite good for getting ideas. However, you can rarely expect thorough advice, since the customer turnover in the houses is quite high – especially as the weekend approaches.

If Weberhaus should be interesting for you, I would warmly recommend making a trip to Rheinau-Linx. There are several model homes there, the newest of which is probably still under interior construction.

You can also look at the sample selection exhibition there, take a factory tour, and (even on weekends – preferably by prior appointment) receive free consultation.

If interested, I can also establish contact with our really very committed advisor at Weberhaus. He works two days a week in Pforzheim and otherwise in Rheinau-Linx.

Best regards,

Dirk

Hello Dirk,

I would like to take you up on your offer. We are still just at the beginning, but I think it can’t hurt to get in touch with an advisor who was independently recommended. However, with Weberhaus I have the fear that our budget won’t be enough; according to previous research, Weberhaus belongs more to the high-priced prefabricated house providers. Just a gut feeling.

Can you also say something about why Lehner was eliminated from your shortlist? We fell in love with their model home in Fellbach. It appealed to us by far the most. However, I have doubts because I find very little information on the Internet and also fear that they might be too expensive for us.

Many thanks in advance!
Regards
Anna